If you want to stand out in multiple offer situations, saving up for a down payment will be crucial in 2010.

If you plan on buying a home in 2010, especially a low-priced foreclosure or short sale, be prepared for competition. Demand is high for these properties, so it's not uncommon for bidding wars to break out over them. Real estate investors are particularly tough for regular buyers to contend with: Many investors are making all-cash offers, and banks -- who are often more concerned with making a speedy sale than with getting the highest price possible -- are accepting these offers over higher-priced offers where loans are involved. To stand out from the competition, make your offer as attractive as possible. That means saving up a sizable amount of cash for a down payment and making an offer that's close to -- or even above -- asking price.

• Learn more about why cash is king when buying a foreclosure or short sale

• Get tips on crafting a winning purchase offer

• Learn how to get a great deal on a foreclosed home in FrontDoor's Foreclosure Guide

• Buying or selling a home in 2010? Make it through in one piece with the help of our Real Estate Survival Guide.

NEXT: #9: Smoother short sales >>